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! [splash!] the era of big government is over but it's not. it is getting bigger. what is in store for our future? tonight. [applause] >> my audience and i just watched the state of the union. once again i am freaked out. president says he will not increase the deficit but the government will consume more money and more of my freedom that is what i heard. with someone who respects the dignity of the individual, individual freedom if only ron paul would run for president. he is here. dr. paul why did you run for president? >> that is interesting had a dream that i did and i was doing very well and i won the primary in iowa and a look of the next morning and my name was never mentioned. i guess it was a dream but i thought about it. >> but you did get in the republican primary more than 2 million votes. >> deal is one to do better but i was very encouraged that is where i have become more optimistic i did watch the same "state of the union" message it is rather depressing but i will continue to go to college campuses. so many young people understand it is so different from when i got in that
. >> nothing i'm proposed tonight should increase our deficit by a dime. it is not a bigger government we need but a smarter government that sets priorities and invests in broad-based growth. that is what we should be looking for. >> there were rare moments when republicans and democrats azbreed i want to ask one question. do you believe him that his policies will not add to the deficit? do you believe it?. >> no. no. >> why don't you believe it?. >> look at the deficit. it keeps growing spiralling out of control continuing to grow. i don't see evidence it's going the other way. >> he made a commitment it won't go up. >> he's got to come up with it. >> he said $3,000 for people to refinance their homes we'd get a tax break for that. but he didn't tell us where it's going to come from. >> i believe he is believing what he wants to do. and he wants to do the best thing for the country. he's going to follow that through. >> we have to stop this you and i know when i cut my budget that means i go from 100ses today $95 in the government a cut in budget means we grow 8% instead of 12%. and that kind
increase our deficit by a single dime. it is not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth. >> the president also appeals to congress to work together on climate change, immigration reform, and particularly on the phony issue of automatic government budget cuts known as sequestration. >> question. when former president clinton took the helm during an economic downturn, he said he had a quote laser-like focus on the economy. how would you describe the focus of president obama's state of the union pat buchanan? >> he did pivot back toward the jobs and the economy but overall this was a very libbal brail speech, something we have all heard before nothing new in it and a dead on aarrival speech. he is not going to get the minimum wage, not going to get the assault weapons ban, not going to get amnesty, not an awful lot of the things he has in there. he is appealing to his base and appealing to what he sees as the majority of the country, which probably does support most of what he said. it was a very political speech but in
, nothing at night first posed should increase our deficit by a single dime, not a bigger government, but the smarter government. setting priorities and investing in broadbased growth. all this happening and about three hours from now, but no matter how it spends, spending is spending, and the federal government is racking up. the average length of president obama's previous addresses as one hour and five minutes and 21 seconds. think about it. the amount of time it takes the national debt to rack up just over $042 million extra. with more on this, former cbo director. welcome to the show. first off, your reaction to these comments he will make that he is not going to get us into any more debt trouble at all. do you believe that? >> he certainly is going to propose more spending which must mean he is going to depose more taxes if. this will be tax-and-spend. we have seen this before. gerri: well, says president obama's first state of the union back in 2010 federal debt is up 34%. our economy is growing slowly. debt is growing three times faster than our economy is expanding. what do
, or who you love. it is our unfinished task to make sure that this government works on behalf of the many, and not just the few, that it encourages free enterprise, rewards individual initiative, and opens the doors of opportunity to every child across this great nation. [applause] the american people don't expect government to solve every problem. they don't expect those of us in this chamber to agree on every issue. but they do expect us to put the nation's interests before party. [applause] they do expect us to forge reasonable compromise where we can. for they know that america moves forward only when we do so together, and that the responsibility of improving this union remains the task of us all. our work must begin by making some basic decisions about our budget -- decisions that will have a huge impact on the strength of our recovery. over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion -- mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of americans. as a result, we are more than halfway
an aggressive state of the union address. it's been widely leaked. he will call for robust government involvement in the economy. more spending on education, infrastructure and green energy. pay for it with more taxes on the private sector and on the rich. the president says the government can rebuild the middle class. on capitol hill there will be numerous standing ovations, but 80% thinks that the opportunity for the next generation is disappearing. more than half think the economy will never fully recover and just as the president demands more spending, he reports waste and fraud in the program is put in place. there you have it. the great divide. that's perhaps the true state of the union. stay right there, "varney & company" is about to begin with dr. ben carson. >> all right. everybody, the headline of this morning is dr. ben carson, the man who lectured president obama at the national prayer breakfast last week. he joins us right now. dr. carson, you've taken a leadership role whether you like it or not. what is your next move? are you going to stand for elective office? >> i
. >> well, good evening. and behind us here tonight, the entire government will be gathered in one building for the president's state of the union address, and in many ways, tonight the real work of the second term of the obama presidency begins. at least the part the president would like to accomplish and where he sees the nation headed. he faces, of course, a sharply divided congress, sometimes violently so, and a divided viewing audience. here tonight, a nation starting to see some daylight after years of recession, and it's the long, suffering middle class that will be the target of much of his message tonight. we should tell you at the same time, we are following a very tense news event, across the continent on the west coast in the san berardino mountains, gunfire and then a fire over an hour we've been watching this in a cabin in the woods believed to contain the sniper, ex-cop, the military veteran that has terrorized southern california for days. another loss of life tonight. a police deputy there confirmed dead and if this situation is resolved, we're keeping a close eye on it, we
economic policies, the government, free enterprise. here is how it stacked up. the president wants more government. he wants more government spending. on the list, universal pre-school, 50 billion dollars worth of road and bridge building, a green energy security trust fund. he said we could grow through government action and it will not raise the deficit one dime senator rubio responded with the exact opposite. free enterprise would result in prosperity for everyone and the senator, addressing president, i don't oppose your plan because i want to protect the rich. i oppose your plan because i want to protect my neighbors. election 2016 began last night. "varney & company" is about to begin and i tell you now stocks could hit a record high very could hit a record high very soon. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on sit now starting unit nine. some of the world's cleanest gas turbines are now powering some of am
that the government can continue, should there be, god forbid, a massive attack on the building behind us. tonight, it's energy secretary steven chu. this person is known as the designated survivor, if you can believe it. a term of distinction. savannah guthrie, let's talk about the atmospherics in the hall, what we can see, and what will be off camera. >> we touched on it already. the atmosphere in terms of the bitterness and the divided nature of our government right now. if you talk to republicans and democrats, the view you get of the other party is just so stark. as far as the speaker and republicans are concerned, the president emboldened, confrontational, wants to obliterate the party. on the side of the white house, aides think the republican party is fractured, weak, vulnerable, unable to govern itself and unable to make deals to solve the big problem and you've alluded to it, an incredible emotional weight inside this hall tonight, because of the many, many victims of gun violence there. a coordinated campaign by one congressman to have multiple victims of gun violence sitting there in the h
smaller government, we are getting ready for much higher xes. is that really applying the buffett rule, which says that for people that make more than $2 million per year, they should pay at least a 30% effective tax rate. neil: so you heard it right there. pushing higher taxes. now this was that tax should fix the problem or maybe compound the problem. jonathan hoenig, we are so glad to see him and lizzie wickett mcdonald. >> over trillions of dollars of spending coming down the road over the next decade, this budget takes it in that regard. by the way come in, the rich can organize their own taxes. those that do the scorecard for congress. they routinely miss it year after year. we are $16 trillion in debt. i will tell you something that if you want government-funded green shoots, or you want to trillion companies overseas back home -- these guys miss it constantly in congress. always messing up from that perspective. >> i feel awkward tensions. >> india. i think you have to be very suspicious about government force. those demanding the product of your labor. that is always the democ
address is the programmatic expression of that. there a social ill that he did not have the government answer to? if he did, i did not hear it. >> mark? >> if that is a liberal agenda, we have moved the goal posts in our country. i thought the speech was -- the sum of its parts did not create a greater whole. i thought that parts of it were really good. like the minimum wage, i like the education, i like the training, i particularly like the gun -- at the end. richarde wasn't come in nixon's turn, the lift of a driving dream. >> colby? >> i don't think it was supposed to be that kind of address. i think he laid out an agenda, and agenda he wants to pursue. i think he will achieve some of it. something will happen with immigration reform, i believe. i think he will get something on guns. there is a movement and he hit it just right with the tone. minimum wage will be the traditional fight. he was right to lay out the agenda he wants. he will get very little support from republicans. >> nina, on a scale from a to f, how would you rate the speech? >> b +. although there was a surgeon laun
. the federal government with a shocking message telling them to call pilgrims illegal aliens. it is and obama administrative administrative effort. if you have trouble with that, wait until you actually see the program under way. as a were going to show you alec, for this mission i upgraded your smart phone. ♪ right. but the most important feature of all is... the capital one purchase eraser. i can redeem the double miles i earned with my venture card to erase recent travel purchases. d with a few clicks, this mission never happened. uh, what's this button do? [ electricity zaps ] ♪ you requested backup? yes. yes i did. what's in your wallet? yes i did. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess g
dime. barack obama's promise to the nation tonight that it is not a bigger government we need, but a smarter government that sets priorities and invests in broadbased growth. the upshot from that centerpiece remark planned for a little more than one hour from now. the president of the united states is not going to go crazy cutting down the debt. in fact, the white house indicates today that he is largely -- he has largely done that already. the 4 trillion in budget cuts have already been largely committed to and for, and that is it. needless to say, 4 trillion is over two years, and the president's is factoring in the sequestration cuts that supposedly taken into weeks, and that is no slam-dunk. and the other cuts he is referring to are sort of rehash cuts. suffice it to say that however speeches the left, then there are the cuts. after that no more. the president's battle to rein in the debt is done. and this housing big and bigger government is on. and if republicans don't like it , lump it. a little more than an hour from now we will hear a president espouse what he did a l
a very dramatic reform of the department as the federal government came in and forced changes down the department's throat after several scandals. bratton latched on to the changes and made sure that the department actually bought into them. and in doing so really changed the story line of the lapd. and that said, this whole episode, while you would think nobody would want to touch dorn were a ten-foot pole we have been inundated with e-mails and calls from lapd cops and from the public that say the old lapd is still alive and well. even if that's not the case, and i don't think it is, the memories and the pain and the scars from that time are still very much on the surface. >> it often goes down to personal experiences with the police that are anecdotal, but of course they drive how you think about any life experience. they dominate your thinking. and of course the past is always with. thank you, joel rubin of "the l.a. time." clint van zandt is now with us. clint, thank you. i've been watching you on knbc as we monitor the situation. do we have clint? we don't have clint. >> yeah
americans believe government spending and huge debt piling up is a major problem. president obama apparently does not belief that last night in his state of the union address he would not cop to being the biggest spending president in history. no, he now sees himself as an investor. >> every dollar we invest in high quality early childhood education can save more than $7 later on. now if we want to make the best products, we also have to invest in the best ideas. now is not the time to gut these job creating investments and science and innovation. we will keep faith with our veterans. investing in world class care. we will invest in new capabilities. even as we reduce waste and more time spending. we need to make those investments. >> bill: 14 times he mentioned the word invest. mr. obama sounding like a morgan stanley broker. now that's obviously a con. massive government spend something out of control, period. here's the proof. 2002, the year after 9/11 when the federal government was forced to dramatically increase spending to protect us, the yearly outlay was just over $2 trillion. it we
strategy, it did program to fight attacks on government and corporate computer systems, especially computers in the nation's critical infrastructure. recent cyber attacks against the "washington post," "new york times," "wall street journal" and twitter have highlighted the issue, chinese hackers suspected in most of these attacks, but building a unified national cyber security program has been hung up by concerns of some companies over their privacy and customer's privacy, protectionn3 of their intellectual privacy, backdoor government mandates and liability protection for businesses that share computer security information. as a result, the government is moving cautiously with corporate america. >> it is your framework, not ours. the goal for the private sector to produce security responsive framework to proceed. leader: to get the ball rolling, the new executive order would allow government intelligence agencies to start sharing more information with companies on a voluntary basis but the government itself updated its own standards and the administration is seeking legislation
extending the drop. 4.3%. prices dropping to the lowest level in nearly five years, following a government report showing you less than forecasted last week spewing we have mark sebastian and our market panel. kimberly fox. i would like to start with this. don't let a tight range, although the dow was in the 68-point range, but don't let this narrow trading range cloud your vision of what happened. what happened here today? >> you know, we have continued through this trend. it is no longer by the market. you have to be smart about compilations, tons of action out there in individual equity. hopefully getting smoked today, if you are a good equity kicker, smart about the stocks that you buy, you will do great. if you're bad, you will lose. this is something we haven't seen since the financial crisis of 2008. the great time for the rest of 2013. except a nice tone for how traders should approach trading. you cannot just say that the stock market will go up because the s&p is coming around. there are stocks moving within the s&p 500. >> let's talk about gold. for while you couldn't lose. but
the state of the union. john? >> reporter: hey, joe. this was government activism that president obama offered for an age of limited resources. the biggest new initiative he offered was an increase in the minimum wage over three years from 7.25 to $9 an hour. the burden for that would be placed, of course, on employers. he offered a laundry list of proposals domestically on education, on energy, on infrastructure, but he made the point to members of congress that none of them would add to the deficit because they were all going to be paid for by offsetting spending cuts. of course, he's not reached agreement with the congress. on here's the president last night. >> nothing i'm proposed tonight should increase our deficit by a single dime. it is not a bigger government we need but a smart or government that sets priorities and invests in broad-based growth. let's set party interests aside and work to pass a budget that replaces reckless cuts with smart savings and wise investments in our future. let's do it without the brinksmanship that stresses consumers and scares off investors. [ ap
and improve our infrastructure, but not by raising taxes. there is plenty of money in the federal government. it is time to find ways to spend it more efficiently. dagen: congressman, thank you very much. that is not the idea that the president throughout their last night. congressman of montana, take care. thank you for being here this morning. connell: another thing we heard from the president was a shout out for apple. the company announcing plans to bring back a new factory jobs back to the united states. connell: let's take a look at oil. 97.45. not moving much today. we will be right back. ♪ i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk inclu
to the average person? why does a huge government debt impact businesses? >> at the end of the day, the issue is there's so much debt on the government's balance sheet that we have to cut back on spending as well as stimulus, and when you think about the dollars injected into the system, some of that will be cut back as well. that's the concern in terms of it doesn't have a question mark on the consumer and put a question mark on how much investment is put forth. >> they are already connecting the dots saying somebody has to pay for a someday, me or my customer. interesting that 68% of u.s. ceos say building a skilled work force should be the government's top prior pickups. what is the government going to do about it? >> they don't see the long term skill set creation to ensure stainability, and literacy or lack thereof, the big k-12 grades are the challenge. how much do i have to continue to invest to supplement what basic education and schools system, should be doing today? >> they are looking at what they have to do to fix the problem themselves? >> yeah, companies think, listen, i'm think
up, but first, risky federal programs. by that i mean a new report by the government accountability of this unveiling the 30 federal programs and operations that3 have the highest risk for race, fraud and abuse, six of which have been the lowest ever since it was first released in 1990. with more on this demand editorial board member of the wall street journal. my question was, only 30? >> that's right. this is only the latest lesson. if you go over the reports from the last ten years are so you're going to find literally hundreds of programs that have been on the watch. by the way, i go back to the early 1980's when you have the famous reports of the regular administration that found huge events of ways, many programs still exist, and the reason i think this story is important is we are coming very close to this point where we are going to have these automatic across-the-board cuts of about five or 6 percent in his domestic programs. the agency heads will say we can't take these cuts. it will require, you know, cuts of valuable services, and vatican support for the american people
. president obama's state of the union address presented an expanded vision of smart government to create jobs and revive the economy. it had many important ideas in it. yet, he lowered his sights on the single policy that would both jump start the economy in the short term and create the conditions for long-term growth. infrastructure spending, having tried several times to propose infrastructure bills of around $50 billion, just 0.3% of gross domestic product, the president now further scaled back proposing a fix-it first plan of 70,000 bridges that are literally falling down nationwide. maybe he thinks this is all he can get through the republican house, but really just place a band aid on america's growing cancer of failing infrastructure. a 2009 study of u.s. infrastructure by the american society of civil engineers concluded that we need $2.2 trillion to be spent over five years to bring the nation's roads, bridges, railway tracks, airports and associated systems up to grade. let me make three crucial points. first, this is the big bang. it would be the most effective way to create good
. but the government's books will continue to be weighed down by heavy debt. that's even if plans go ahead to raise a sales tax. there's a one in three chance of a downgrade this fiscal year. this is as the japanese prime minister shinzo abe says he will consider changing the bank's mandate. he didn't comment on current policy. all this as investors determine who will become the bank of japan's next governor. front runners for the post include former bank of japan deputy governor and the head of the asian development bank harikahiko tura. >> we did catch up with taro at a meeting this weekend in moscow. the next boj governor was covered, but the first question, whether mr. aso thought the g-20 communique was an endorsement of japan's domestic stimulus plan. >> japan has repeatedly tried to explain that japanese policies are taken to overcome deflation and by all means, these are measures to overcome deflation as well as the recession. that's what is being said in the second paragraph of the communique. >> why do you feel, then, certainly from the g-7 communique that the off the record briefings con
number of people out there are circling the wagons. they see the government coming to collect their guns, and they're preparing for fight. the only thingy figure is that movement, crude as it may be to throw these two issues together toward personal freedom, toward individual autonomy is growing, profoundly on the right as well as the left. people want to make their own decisions. they do. and it may be dangerous for society as a whole to allow this when it comes to gun buying, but there row visit. one bet you can make on america we are still a cowboy country. we like to get around in our own cars, live in our separate houses, read whatever, see whatever, pretty much do whatever. and the difference here is doing harm to others. two people getting married doesn't hurt someone else's marriage, nor does it reduce its reverence or love. having a gun in the wrong hands, freedom for that person can mean death for lots of others. and that is where the desire for freedom jumps the tracks. that's where our cowboy urge need wyatt earp to come in and clean up dodge city. and that's "hardball" for n
is exempt larry in many ways of bloated bureaucracy that our guys face. these are big, government insteads meant to trachsoldiers coming off of the battle feel and transition them, they wait in long lines issue they don't get the care they need, they don't have enough mental health professionals, all they face when a bureaucracy consumes itself. >> here is what the president, barack obama said, here is his promise to veterans, no one who fights overseas for this country should ever have to fight for a job, not just a job he is talking bhe is talking about basics, health care, a career in service, what does he have to show for it? nothing, how would you rate the job we're doing in this cntry for our veterans right now? >> not good enoh. because we have got over 900,000 waiting in line for their claims right now at the va, because the guy like this does not know where to turn, the v.a. provides 5 years of combat health care for a guy like this, there are ways for transition assistance but a lot of people fall through the cracks, the system is full of holes we pump more money into problem wit
levels of chinese national government investment in production, by 2020 under the direct control of the chinese government will be under the control of nearly a million barrels of production every day. sandra: rick, i want you to get in and respond to this. >> i think those are exceptions, but based on what he said, let's take down a list. oil is going to go to houston, which will refine the level. some of it could be exported, most of it will be used here. it will take several years to build, five thousands and thousands of jobs positive for the economy, just in pennsylvania and north dakota alone. it is huge. obama has given us sort of a true balloon. he did say he was going to, if the oil pipeline is approved, he would give the olive branch to the environmentalist to get energy research and development dollars out of the texas. the oil and gas industry is the second-largest payer behind the federal income tax. sandra: all this being said, we heard from both sides of the argument, does the president approve this? >> the interesting thing to notice the president has never oppose
't expect government to solve every problem. they don't expect us to agree on every issue. but though expect us to put the nation's interests before party. >> president obama urging compromiseeyough expect us to p the nation's interests before party. >> president obama urging compromiseugh expect us to put e nation's interests before party. >> president obama urging compromisegh expect us to put t nation's interests before party. >> president obama urging compromise expect us to put the nation's interests before party. >> president obama urging compromise as he lays out his vision, but will republicans buy it. >>> cruise from hell. more details on board that carnival cruise ship. can i slowly limping its way back to alabama. there is sewage in the hallways. sorry to be sharing those details at this hour of the morning. welcome to a special edition of "early start". >> lots to get to this morning as we hit 5:00 here in washington, d.c.. just a few hours ago really president obama who was challenging congress to act, it was his state of the union address that was a response to from senator mar
street all the way to a trial. >> ooh, this ought to be good. please proceed, government regulators. >> we've actually had a fairly -- a fair number of consent orders. we do not have to bring people to trial or -- >> well, i appreciate you say you don't have to bring them to trial. my question is when did you bring them to trial? >> we have not had to do it as a practical matter to achieve our supervisory goals. >> and senator warren wasn't done making her point. >> we look at the distinction between what we could get if we go the trial and what we could get if we don't. >> i appreciate that that's what everybody does. so the question i'm really asking is can you identify when you last took the wall street banks to trial? >> um, i will have to get back to you with the specific information. >> i think they all need water on that panel. what do you think? the government has acted cowardly when it comes to the big banks, no doubt about it. deals are cut and civil cases get settled out of court. the banks don't have to change any of their behavior. you and i get stuck, or could get stuc
with that country. the fact that they are such nurse. by the way. the idiots, the government officials. some of the best entrepreneurs in the world, but they are stuck because the government is absolutely out of its mind. by the way, the mock up was the total fake. they showed this mock up. it was totally fake. melissa: we are out of time. that's all the "money" we have for you today will see you back here on monday. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report", suing. a cheap knockoffs. thousands of customers ripped off. also, the judge rules on the case. and our special segment. we go behind the scenes of new york's fashion week for the hot as designs of the latest trends. "the willis report" is on the case. ♪ gerri: all that and more coming up. first, our top story worth thousands, thousands of costco customers were ripped off. that is what tiffany is saying. the high end jeweler says there were selling expensive diamond rings, falsely claiming they were from tiffany. as a result, they customers were duped for years. now taking the warehouse center court
the nonsense that he pulls off? he has a natural home in the federal government. [ laughter ] tracy: thank you, lou. ashley: we have a business alert for you. boeing is pushing it temporary fix. it is trying to get this dreamliner back into the air. they will try to sell a plan that includes the heavy duty titanium or steel box around the battery cells. they could get to work on a redesign of the lithium ion battery system which is expected to take nine months to put into place. we will see. the sequestration deadline less than two weeks away now. if nothing is done, we could be facing $1.2 trillion. also, a loss of 900,000 defense related jobs. it is the unintended consequence of the so cluster that really has my next guest concerned. tom, thank you. obviously, those headline numbers, well, you know, disturbing. what are the unintended consequences that worry you been back thanks, ashley, for having me on today. it will be 11 days until we see the unintended consequences. there are a million workers and they pay $90 billion a payroll and those workers, as well as, the companies that they work
with that in particular? >> first of all this is government at its best. you have the president up there blaming the republican party and what is funny this is the president's idea to begin with. but the way government plays instead of looking at good programs and bad programs they want to be politically correct which it is political correctness killing this country, they want to wave a magic wand, all programs are treated the same. why don't we take a business approach like we do in all companies. look at things that are working and reward them and get rid of things that aren't working. there are a lot of programs in our government that makes no sense. a lot of duplicate programs, our own senator from the great state of oklahoma, pointed it out, senator coburn and the senate wouldn't pick it up. instead we'll cut across the board and hurt things that really mean a lot to people that --. melissa: congressman, is there something you can do about that in the short term? can you get a group of people, get out a pencil, get out a calculator and figure out what is not working? i agree with everything
't expect government to solve every problem. but they do expect us to put the nation's interests before party. >> reporter: it all came on the same day speaker john boehner called the president out for not having the courage or guts to make tough choices on the budget. the president used the power of the podium to push back. >> some in congress have proposed preventing only the defense cuts. by making even bigger cuts to things like education and job training. medicare and social security benefits. that idea is even worse. >> reporter: as is typical of most state of the union addresses, the president covered lots of ground. >> our first priority is making america a magnet for new jobs and manufacturing. we must do more to combat climate change. send me a comprehensive immigration reform bill in the next few months, and i will sign it right away. i ask this congress to declare that women should earn a living equal to their efforts and finally pass the paycheck fairness act this year. >> reporter: not to mention the middle east, afghanistan, counterterrorism, cyber terrorism, and voting r
place, by saying, okay, the government is going to step in and shore up these companies with these dollars, it send a signal and the signal is this. that, the government will step in, when a, industry and institution, that is deemed systematically important, that means it is important to the nation's economy. if they run into trouble, the government is basically said, we will come in, and bail you out. david: right. >> and that's the real problem with these programs is that --. david: here is another problem with the program. everybody seems to agree a lot of banks like citi and others were just too big. they got too involved. >> right. david: when you had a systemic problem it led the entire collapse or could have led to the entire collapse of the bank and the financial system. the problem is after tarp which we were told solve or at least partly take care of too big to fail, we are more concentrated than ever. the top five banks have a greater percentage of all assets than they did before this crisis. so tarp is actually, i don't know if it had an effect there but cert
% believing our government has a spending problem. nancy pelosi had this to say on fox news sunday. >> it is almost a false argument to say we have a spending problem. we have a budget deficit problem that we have to address. right now we have low interest on the national debt and it is a good time for us to act to lower that deficit. we think they must be reduced. we are sick and tired of paying interest on the national debt. that is a large percentage of the budget. it is lower now because of the lower interest rate. dagen: i do not speak pelosi. let me see if i can translate what she was saying. she does not believe there was a spending problem. the budget deficit and budget cap should be fixed -- >> i think she is talking out of her -- i do not think there should be any tax increases. i think it is time for the fiscal deficit to call it off and a clear victory. there are signs we have gone too far too quickly. left or right, i am very happy to hold off on these tax increases which i think will appeal to a lot of people. i am in equal opportunity growth guide. both sides of the
by our government. but first. >> i don't think that we should allow brennan to go forward for the cia directorship, hagel to be confirmed to secretary of defense until the white house gives us an accounting. >> sean: will benghazi block some of obama's cabinet nominees? we'll tuck about thatten the menendez scandal and more. and a special note, after the president's state of the union. that's here and don't miss power analysis. ♪ [ male announcer ] pain not sitting too well? burning to feel better? itching for relief? preparation h offers the most maximum strength solutions for all hemorrhoid symptoms. from the brand doctors recommend most. preparation h. don't stand for hemorrhoids. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. a
what he's saying, rubio scored the biggest points when he talked about big government. >> the idea more taxes and more government spending is the best way to help hard working middle class taxpayers an old idea that's failed every timist been tried. more government won't help you get ahead. it will hold you back. more government isn't going to create more opportunities. it's going to limit them. and more government isn't going to inspire new ideas. new businesses, and new private-sector jobs. it's going to create uncertainty. >> republican senator rand paul gave the tea party response and chastised both parties for spending too much. he also talked about limiting the reach of the federal government. >> what america needs is not robin hood but adam smith. in the year we won our independence, adam smith described what creates the wealth of nations, he described a limited government that largely did not interfere with individuals in their pursuit of happiness. all that we are, all that we wish to be is now threatened by the notion that you can have something for nothing, that you can have
a follow on to the kind of inauguration address where the president talked about the role of government in society. tonight, i think he's going to talk about pretty robust role of government in the economy and he's going to focus on mice. not the rodent. it's an acronym for manufacturing, infrastructure, clean energy and education. those are the four topics i think you're going to hear. >> there are republicans around the country rolling your eyes as you're saying this. >> yes. i understand that. i think part of the president's job tonight is to explain how he's going to bring republicans along, but remember, he's talking over the republicans to the american people -- >> what happened to the middle? >> let me just say, the complaint -- i think the complaint against the president and the congress in general has not that they're not talking to what americans care most about right now which is the economy ask jobs. and that's true. the budget deficit -- >> he was talking about 18 and 19. >> i'm just saying that -- >> global warming and what was the other thing? >> there's immigration, ther
entry for the you will not believe this file. the government accountability office just releasing a report on government waste, peter barnes has seen it and he's in washington, give me a headline number that will shock me, peter. >> these are, welsh the government operations on the high risk list for being vulnerable to waste, fraud abuse and mismanagement and at the top of the list the overall programs that deal with possible climate change problems such as the federal flood insurance program, disaster relief programs and spending on those have exceeded over 100 billion in recent years. taxpayers are also at risk, according to the gao, for 24 billion dollars in new satellite, weather and tracking systems. but have you got a second for one piece of good news, stuart? are you sitting down? >> yeah, go. >> i've got one for you, the computer geeks at the irs have made enough fixes to the agency's 10 billion dollar computer modernization program which went on the list in 1995 to finally get it off. back to you. >> hold on a second, i want to go back to that 100 billion dollar number.
that 25% of the revenue comes from government contracts and the united states and europe, and if we look at austerity measures at the two large economies, cisco can't go through that without having a bit of a hit to the revenue on that. ashley: charlie, a big part of cisco's operation, in fact, 20% of the revenue comes out of europe, and we know the problems that europe has had. how concerned are you about that for cisco going forward, or do you think europe is getting its act together? >> i don't think europe's getting its act together. we've actually seen a little bit better expectations about the enterprise business from cisco. obviously, the government business is weak. they sold off consumer oriented businesses so i wouldn't be so much concerned about a revenue miss at kiss koa trying to concentrate on the profitable business. look at the margins more than the slight revenue miss. liz: okay. is that what you do when earnings come out of the stock you own, look at the margins? >> well, i mean, we saw it with apple. the trend in gross margins was what people were concerned about. when
toward republicans tuesday night and will say little about cutting the size of government. though the latest fox news poll found when asked what issues they are extremely concerned about, number one was government spending. ahead of healthcare and the economy. despite democratic leader nancy pelosi claiming to fox's chris wallace, washington does not have a spending problem. >> it's almost a false argument to say we have a spending problem. we have a budget deficit problem we have to address. >> now pelosi went on to claim that nothing brings more money in the u.s. treasury than investing in education. investing another word for spending. bret? >> bret: so, ed, what are we hearing if the president will tack the deficit in the speech? >> interesting, because today jay carney said he does believe there is a spending problem in washington. he seems to disagree with nancy pelosi a little bit. carney went on to say he believes the problem is with spending on healthcare. so something the president tried to tack with the affordable care act and carney went on to say the president doesn't
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